26 November 2015
AirAsia Bhd’s revenue for the third quarter ended Sept 30, 2015 rose to RM1.51 billion from RM1.32 billion in the same period last year.
The higher revenue was supported by a 19% growth in passenger volume, it said in a filing to Bursa Malaysia today.
The company posted a pre-tax loss of RM461.70 million compared to a pre-tax profit of RM26.46 million in the corresponding quarter last year.
In a statement today, AirAsia Group Chief Executive Officer, Tan Sri Tony Fernandes said – in Malaysia all signs pointed towards rational and sustainable growth in the coming quarters as other players had significantly reduced capacity and rationalised their routes while the irrational price war that took place in the past was over.
“Domestic traffic in particular, saw a significant reduction of 18% at the Main Terminal Building of KLIA (Kuala Lumpur International Airport) while at klia2 (Kuala Lumpur International Airport 2) – traffic jumped 22% in September 2015.”
On the outlook of cost environment – Fernandes said AirAsia group has gained from the low fuel price in Q3.“Therefore, we are witnessing the positive effect of rational pricing and its impact on passenger travel patterns,” he said.
“As of now, the group has hedged 50% of its fuel requirement for 2015 at an average cost of US$88 (RM372.63) per barrel on jet kero while we have hedged 30% at an average cost of US$65 per barrel for 2016,” he said.
Original Source: therakyatpost.com
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